I'm an American who frequently visits Vancouver. Allow me to applaud Mark Hasiuk for his excellent column, "Foreign ownership helps drive dysfunctional housing market." Although I consider Mark's described Australian solution extreme in parts, at least their ideas should be considered as some means to bring down the housing bubble in Â鶹´«Ã½Ó³»and make life more affordable for people who actually live and work here (but don't use their properties for business purposes). One must salute Sandy Garossino for raising the issue. I wonder why Premier Christy Clark and Mayor Gregor Robertson remain silent on this issue?
Allow me to suggest another solution from the U.S., which would consist of a Homestead Exemption. This method would allow Canadians actually living in Â鶹´«Ã½Ó³»a lower property tax rate (thus lower taxes) based on considering the property their Homestead (or permanent residence) whereas anyone (whether foreigner or not) not actually living in the property (but renting it or holding onto it for business purposes) would pay a much higher property tax rate.
Allan Schultz, Houston, Texas
